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Payment Institutions & E-Money

What Is the Circular on the Report Format under Article 8 of the Regulation on Payment Services and E-Money Issuance and Payment Institutions and E-Money Institutions? How Can It Be Accessed?

Under Law No. 6493, payment institutions and e-money institutions may operate only with BRSA permission. This post explains the BRSA circular on the format of the independent audit report required with operating permit applications under Article 8 of the Regulation, and where to find it.

March 19, 2021

Payment Institutions & E-Money

What Should the Report Format Be for Payment/E-Money Institution License Applications to the Central Bank?

Applications for electronic money and payment institution licenses have risen sharply with technology and digitalization, and obtaining the operating license can be the most tiring part. Here is where to find the application form.

March 19, 2021

Chargeback

What Is HİYS (Dispute Management System)?

The Dispute Management System (HİYS) is the system used among BKM members to share chargeback transactions and the supporting documents that must accompany them, linked to Domestic Clearing and Settlement System data.

February 22, 2021

Merchant & POS

What Is Dynamic Verification?

Dynamic verification means that, in a payment initiated with a dynamic QR code, transaction-specific details such as the recipient's name, account number and amount are verified online by the receiving participant at the time of the transaction.

January 29, 2021

FAST

What Are the Advantages of the FAST System?

The FAST system will bring significant convenience and speed to payments and money transfers. Here are its advantages for citizens and businesses, from Easy Address transfers to risk-based limits.

January 28, 2021

FAST

Can Non-Bank Institutions Join the FAST System?

Yes. The FAST system was first launched with the participation of banks in Türkiye, and integration has been completed with 21 banks. Non-bank institutions meeting the criteria, such as payment and e-money institutions, will also be able to join.

January 28, 2021

FAST

What Should You Do If a Mobile Phone Number Defined as an Easy Address Is Cancelled?

With the Easy Address system, your mobile phone number has become more important. If you cancel your number, notify your bank as soon as possible, delete the outdated definitions and register your current information again.

January 27, 2021

FAST

What Is the Maximum Number of Easy Addresses You Can Define?

You cannot define unlimited Easy Addresses. You can define at most 5 (for example, 2 phone numbers, 2 email addresses and 1 Turkish ID number), and each Easy Address can be linked to only one account.

January 25, 2021

Credit Card

Does the Bank Have the Right to Refuse My Credit Card Limit Increase Request?

Yes. Banks may reject limit increase requests based on their assessment of a person's economic and social situation, credit score and similar information.

December 1, 2020

Credit Card

Can My Credit Card Limit Be Increased Without My Permission?

The limit set when the card was issued cannot be increased without the cardholder's permission and approval. If you have instructed periodic limit increases, later increases take effect unless you object within fifteen days of being notified.

December 1, 2020

Credit Card

Do I Pay an Extra Fee If I Exceed My Credit Card Limit?

If you exceed your limit by no more than 20% and close it in the next statement period, no more than twice a calendar year, only contractual interest is charged on the excess amount. You pay no additional fee.

December 1, 2020

Credit Card

What Happens If I Don't Pay the Minimum Payment on My Credit Card by the Due Date?

If you miss the minimum payment three times in a calendar year, your card is closed to cash use; if you miss it three times in a row, it is closed to both cash use and purchases until the full debt is paid.

December 1, 2020